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Petroleum Division Announces 15% Fuel Price Rise
Egypt is expected to increase gasoline and diesel prices in the upcoming period by between 10% and 15%, due to the rise in global oil prices, which have increased by approximately 50%. This has led to higher costs for supplying petroleum products and government subsidies. The Vice President of the Petroleum Materials Division at the Federation of Chambers of Commerce confirmed that the increase is now anticipated as a result of economic changes and oil market fluctuations. The decision to raise prices depends on the study of the relevant committee during October. Prices will also be influenced by economic and social considerations. The Egyptian market is awaiting the outcome of this decision, which will directly impact transportation, production costs, and the prices of goods and services.
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